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Proposition 33 Ignites Fierce Debate Over California Rent Control Laws

Do Elections Affect the Housing Market? Here's What Experts Say

Real estate in for a fright as mortgage rates return to 7%

Proposition 33 Ignites Fierce Debate Over California Rent Control Laws

These Are The Best Companies For Career Growth, Ranked

Grab Dave’s Newest Book, “Start with Strategy”

Jump to topic:

(00:00) Intro

(01:01) Pre-Election Housing “Slowdown”

(13:03) The “Trump Trade”

(16:48) Prop 33 Rent Control?

(24:15) Best Companies for Career Growth

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-266

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Why the True Cost of an Eviction Is (Much) Higher Than You Think Oct 31, 2024

Show notes

Evictions suck—for everyone. They’re bad for the property owner, the tenant, and America as a whole. On the lowest end of the spectrum, evictions cost Americans over $14,000,000,000 (that’s BILLION) per year. With this massive sum spent on court fees, attorneys, moving trucks, and lost rent, how do we STOP evictions before they happen? What can landlords do to ensure they NEVER have to kick out another tenant for nonpayment? Today, we’re discussing the true cost of evictions and how to avoid them.

We’ve brought our own Market Intelligence Analyst, Austin Wolff, back to the show to share how much evictions cost for the landlord, how much they cost to the tenant, and how much they cost society. We’re breaking down which costs hurt real estate investors the most during the process and how long it may take you to get a non-paying tenant out of your house.

Once you’ve been seriously sticker-shocked by the price of an eviction, James brings us some actionable steps he uses daily to avoid evictions at his rentals. He recently had one of the worst evictions, costing him SIX FIGURES. He shares what to do so this DOESN’T happen at your investment property, plus the type of rental you can provide that attracts the highest-quality tenants.

In This Episode We Cover

The astronomically high cost of evictions in the United States

How long evictions usually take, and why they often drag out months (or even years)

The cost of an eviction to a tenant and the fees they have to pay once they’re forced to leave

How to avoid evictions from the start by following some quick tips from James

The key to maintaining a high rent collection rate in your rental portfolio (fewer evictions)

What to do if you inherit tenants you suspect WON’T pay once you purchase the property

Overall economic impacts of evictions and why we MUST reduce them

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Property Manager Finder

Austin's BiggerPockets Profile

6 Strategies That Help Landlords Avoid Evictions

Grab “The Book on Managing Rental Properties”

Evicted Book

Jump to topic:

(00:00) Intro

(02:23) Most Expensive Eviction Ever?

(05:23) Cost/Time It Takes to Evict

(14:11) The Cost to Tenants

(18:57) Serious Economic Effects

(22:47) How to Avoid Evictions

(29:44) Inheriting Tenants (What to Do)

(32:09) Astronomical Total Costs

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-265

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Rich Boomers, Broke Millennials, and Ambitious Gen Z Fight for Housing Oct 28, 2024

Show notes

Which generation is taking control of the housing market? With Baby Boomers sitting on an enormous amount of equity-based wealth, younger generations now have to do their part to get in the game, but who is faring best? Gen Z is hungry to get into homeownership, but with their high cost of living, credit card and student debt, and low affordability, will they be a forever-renter generation? What about Millennials, many of whom were financially shell-shocked after leaving college and entering the workforce during the Great Financial Crisis? And don’t worry, Gen X, we didn’t forget you (even though almost everyone else did).

Today, Dave and each of our experts have taken one generation to report on. We’ll talk about Gen Z, Millennials, Gen X, and Baby Boomers—how much wealth they hold, their debts, whether or not they’re buying houses, and how they could affect the future housing market. Plus, we’ll touch on the financial mentality behind each generation and whether or not they have what it takes to become homeowners.

Finally, will the “Silver Tsunami” ever happen when Baby Boomers pass away and the flood of Boomer-owned houses hits the market? We’ll discuss the likelihood of this happening and whether or not the growing trend of “aging in place” could keep our housing inventory at rock bottom.

In This Episode We Cover

Why Gen Z is so poised to start buying real estate (but will they be able to?)

The Baby Boomers’ massive amount of equity wealth that may benefit the future generations

The largest generation of homebuyers that is still actively looking for places to live

Why this “forgotten generation” might be one of the wealthiest to come

The chance of a “Silver Tsunami” and what happens when Boomers pass down their housing wealth

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Grab Henry’s New Book, “Real Estate Deal Maker”

Boomers Hoard Houses, Millennials Struggle to Buy, But Gen Z Gets Ahead

Jump to topic:

(00:00) Intro

(02:58) Gen Z - The Renter Generation

(10:47) Millennials - The Homebuyer Generation

(16:51) Gen X - The Forgotten Generation

(26:18) Baby Boomers - The RICH Generation

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-264

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If You Feel Like We’re in a Recession, Listen to This w/Nicole Lapin Oct 24, 2024

Show notes

Does it feel like we’re in a recession? People are constantly discussing layoffs, many Americans are in credit card debt, home ownership seems unachievable, and you probably feel like you should be making more money based on how expensive everything is. But, on the other hand, inflation is down, stocks are up, and unemployment is still (relatively) low. This is what Nicole Lapin would refer to not as a recession but a “vibecession;” it feels like we’re in a recession, even if we aren’t.

As a renowned journalist, author, and money-minded podcast host of Money Rehab, Nicole is one of the best in the industry to come on and explain the state of the American consumer, why they feel so negative toward the economy, and what good news we have going into 2025. Nicole is breaking down exactly why Americans feel so disconnected from our growing economy and the reason consumers are getting frustrated.

But it’s not just bad vibes (okay, enough with the Gen-Z verbiage); there are “bright spots” in the economy that few are paying attention to. These data points come close to proving that we may be out of recession territory and confirm that the Fed did achieve its “soft landing.” Are we on our way to finally feeling good about the economy again?

In This Episode We Cover

Why it feels like we’re in a recession even though the economy is growing

The disconnect between men and women and who’s more optimistic in 2024

Did the Fed actually achieve their soft landing and an inflation rate update

The good news on wage growth (with a BIG caveat)

Rising credit card debt and whether or not this is a precursor to economic crisis

The “bright spots” in the economy that point to some good news for Americans

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Here’s What the U.S. Consumer Tells Us About the State of the Economy

Money Rehab

Thinking, Fast and Slow

WSJ: The State of America’s Wallet

Build Wealth in Any Market Cycle with “Recession-Proof Real Estate Investing”

Jump to topic:

(00:00) Intro

(01:50) Welcome to the "Vibe-cession"

(05:18) Men vs. Women Economic Sentiment

(06:59) Wages Grow, But...

(10:56) Consumer Debt is Climbing

(16:23) GOOD News for the Economy

(18:42) Hope for Average Americans

(21:39) Where is the Economy Headed?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-263

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3 of the Cheapest Places to Buy a House (That We Would Invest In) Oct 21, 2024

Show notes

Housing affordability in America is the lowest it’s been in forty years. Every year, there are fewer and fewer affordable places to buy a house, and many of the cities that used to be affordable have become so popular that they’re now the pricey ones. Are there any affordable housing markets left, and if so, which ones should investors pay the most attention to? We did a new data analysis on American housing markets to bring the exact list to you today.

Austin Wolff, our own BiggerPockets market intelligence analyst, spent some time analyzing housing markets that not only have job, population, and wage growth but also have affordable home prices perfect for investors. Today, he’s sharing this new list, along with some of the least affordable housing markets that are nearly impossible to break into without millions of dollars.

But is America the only country suffering from a stubborn unaffordability crisis? Many of the top economies are also feeling the sting of high inflation, limited real wage growth, and strong home price appreciation. But are we doing better or worse than many of the top developed countries? We’re sharing those stats, too!

In This Episode We Cover

America’s affordable housing crisis explained, and whether it’s going to get better or worse

Most affordable housing markets with job, population, and income growth

Comparing American home prices vs. other top economies’ home prices

The least affordable real estate markets with the highest home-price-to-wage ratios

The single most affordable city in the United States that could be an excellent investing market

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

These Are the 10 Most Affordable Markets To Invest in During 2024

Bankrate’s 2024 Home Affordability Report

Why Trump and Harris Aren’t Talking About the $1.8 Trillion Deficit

Austin's BiggerPockets Profile

Grab Dave’s Book, “Real Estate by the Numbers”

Jump to topic:

(00:00) Intro

(02:36) Why Affordability Matters

(04:59) Most Unaffordable Period Ever?

(08:00) How Does America Compare?

(12:23) Least Affordable Markets

(15:09) Most Affordable (Growing!) Markets

(24:35) Will Affordability Improve?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-262

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This Could Be Like Getting into Airbnb in 2012 Oct 17, 2024

Show notes

While short-term rentals are seeing slowing demand, mid-term rentals are taking off (and fast). Mid-term rentals, also called medium-term rentals or MTRs, are thirty-day or longer stays, usually for traveling professionals or those who need temporary housing while relocating. These rentals give you more rent than a regular long-term rental, less turnover than short-term rentals, and can be successful in even the most average of markets. Where are MTRs heading next? We brought on Jeff Hurst, CEO of the leading MTR listing website Furnished Finder, to share the data he’s seeing.

Jeff believes MTRs are still years away from peaking in demand and supply. But maybe he’s a little biased as someone who works in the field. Even as an industry insider, Jeff brought some solid stats that show that MTR is far from falling off the investing map. He’s so bullish on this strategy that he believes MTR is now where Airbnb was in 2012. But what should you do to get in on MTR investing?

Jeff shares the best MTR markets and signs for whether or not your city could be a great place to try it, plus the surprising property type that works best for this strategy (MUCH more affordable than short-term rentals) and how landlords and investors can find tenants WITHOUT going through pricey booking platforms.

In This Episode We Cover

The state of the mid-term rental market and why it’s looking much brighter than short-term rentals

Mid-term rental investing explained, and who’s staying at these properties

Why rural markets actually make terrific mid-term rental investing areas

How to start investing in mid-term rentals WITHOUT owning a single property (rental arbitrage)

How to find tenants for your mid-term rentals without paying high listing fees

The (surprisingly) small property types that work best for mid-term rentals

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

How to Invest in Medium-Term Rentals

Furnished Finder Stats

Grab the MTR Book, “30-Day Stay”

Jump to topic:

(00:00) Intro

(01:57) What Are Mid-Term Rentals?

(06:21) Mid-Term Demand is Still Growing

(09:58) Best Mid-Term Markets

(18:19) Are We Past the Peak?

(20:26) Finding Tenants

(23:59) Fewer Regulations?

(30:03) Bullish on Mid-Term’s Future

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-261

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Rental Demand Could “Catch Up” in These Oversupplied, Struggling Markets Oct 14, 2024

Show notes

America is experiencing a strange housing supply problem. On one hand, we don’t have enough housing supply nationally; on the other, we have too much housing supply in cities like Austin and Fort Myers, and as a result, these cities are seeing significant rent declines. Meanwhile, rents are still going strong in much of the Midwest, as their supply-constrained markets give landlords and real estate investors the upper hand. But, even in the “oversupplied” markets, is there a chance for rent price redemption in the future?

We brought on BiggerPockets’ own Market Intelligence Analyst, Austin Wolff, to share his latest findings on housing supply. Austin talks about why rents are growing in some parts of the US but declining in more oversupplied markets. But with the slowing down of construction, will these oversupplied markets become undersupplied? Will landlords in these markets be happy they held onto their properties in a few years?

Austin also shares the exact market he’s making his first real estate investment, which boasts high demand but has yet to see a significant supply bump for his asset class. Does higher supply always mean lower rents? Not quite, and we’ll get into why in this episode!

In This Episode We Cover

The state of our 2024 housing shortage problem and why we may be under and oversupplied

Where rent prices are falling and the cities with the most supply coming online

When demand could finally “catch up” to the high supply these markets are experiencing

The correlation between supply and rent prices (and why they aren’t ALWAYS opposite)

Long-term rent projections as building starts to slow and demand stays high

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Easily Identify Your Next Market to Invest In with BiggerPockets Market Finder

Check Out Austin’s Data-Driven Blog Posts

Connect with Austin

Bureau of Labor Statistics

Census Data

CoStar

Zillow Data

Master the Simple Formulas Behind Every Great Real Estate Deal with “Real Estate by the Numbers”

Jump to topic

00:00 Intro

04:49 Our 2024 Housing Supply Problem

08:22 Where Rents Are Falling

13:13 Demand Will “Catch Up”

17:31 What Happens When Supply Rises?

25:46 Long-Term Rent Projections

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-260

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.

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4 States With the Strongest Economies and Investing Potential Oct 10, 2024

Show notes

**UPDATE: We recorded this episode on October 1st, as North Carolina was beginning to recover from the damage caused by Hurricane Helene and before Hurricane Milton had formed. We approached this episode as an exercise in economic analysis -- an in-depth market analysis should include a deeper assessment of environmental risk than we had time for in this discussion. And of course, no investment is more important than human lives and safety. If you’d like to contribute to ongoing recovery efforts, please consider doing so here.

We talk a lot about the overall housing market, but what about the best states to invest in real estate? A state on the East Coast might see solid rents, booming business growth, and low inventory, while somewhere on the West Coast could be experiencing the opposite. At a state level, factors like economic strength, job growth, income tax, and others can greatly impact where Americans live and rent. So, which states would WE happily invest in now?

Today, we’re sharing the four states we feel bullish about in 2024, specifically for economic growth. And when there’s economic growth, there’s usually excellent investing prospects. You may have thought about investing in a few of these states before, and one of them you may have forgotten was even a state (sorry to those residents), but all of them boast real estate investing potential that many other parts of the US lack.

And, during a time when home prices are still high, some of these markets are seeing what could be a temporary decline, opening up the potential for you to go in and scoop up deals before their real estate markets begin to rebound. Which states are we most confident about? Stick around to find out!

In This Episode We Cover

Four states with booming economies and serious real estate investing opportunity

The tiny state with below-average home prices and most of the Fortune 500 companies

A southern state boasting serious potential as its real estate values try to recover

A “treasure hunting” housing market that may be overcorrecting a little too much

Why more tech is moving into this East Coast state and pumping up its property market

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Find Your Next Investing Market

On the Market Episode 251 - Would You Vote for Any of These Market-Changing Economic Policies?

What’s the Best Strategy for Your Market? Find Out with “Start with Strategy”

Jump to topic:

00:00 Intro

02:52 1. Delaware

11:38 2. Texas

17:13 What to Buy in Texas

20:05 3. Florida

22:21 Businesses Love the Sunshine State

27:12 4. North Carolina

35:30 Best State to Invest?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-259

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.

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Immigration Boosts Renter Demand, Builder Confidence Is Growing Oct 07, 2024

Show notes

Did immigrants help keep landlords afloat during this tough housing market? New data may be pointing to just that. Today, we’re discussing one rarely mentioned housing market factor—immigration and immigrant renters. We’re talking about documented AND undocumented immigrants, asylum seekers, and what the effect of the massive influx in immigration has been on the renting market.

John Burns from John Burns Research and Consulting, joined by VP of Demographics Eric Finnigan, is back on the show to discuss immigration, household formation, migration patterns, mortgage rates, and the effects each of these factors has on the housing market. With immigration exploding (we’re in one of the largest immigration years EVER), the next obvious question is: how is this affecting rents/available homes? John and Eric bring in new data to share how immigration may have “bailed out” landlords during the worst parts of the market.

But that’s not all. We also touch on John Burns Research’s newest house-flipping survey and how flippers are surviving (thriving?) in today’s market. Why are builders becoming more bullish on the housing market? And could the recent mortgage rate cuts open the spigot of homebuyer demand in this already supply-constrained market? We’re digging into the data that answers these questions in today’s show.

In This Episode We Cover

The newest immigration and housing data pointing to some surprising conclusions for landlords

Why immigrants crossing the southern border are NOT just settling in border towns

How immigrants may have “bailed out” multifamily investors struggling to fill units

New multifamily supply and why builders are becoming more bullish in today’s market

Whether or not lower mortgage rates will lead to higher home prices

The state of house flipping in 2024 and whether flippers are still making money

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

U.S. Immigration Crisis: What It Really Means for Housing Markets and Investors

Get on the List for John Burns Research: jburns@jbrec.com

Fix and Flip Survey

Master the Real Estate Formulas Before You Buy with “Real Estate by the Numbers”

Jump to topic:

00:00 Intro

02:11 Immigration is Exploding

04:59 Why “Households” Matter

06:40 Immigrants Boost Demand

08:50 Landlords Got “Bailed Out”

11:47 MORE Multifamily Development?

15:58 Mortgage Rate Cut Implications

23:37 Are Flippers Surviving?

29:06 Grab the Data!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-258

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Headlines: Redfin Sees a “Brighter” Homebuying Season Coming, Will It Happen? Oct 03, 2024

Show notes

Mortgage rates are finally falling, and Redfin is predicting a “brighter” housing market. Who’s leading the charge in new homebuyers? Surprisingly, the generation nobody expected—Gen Z. How are they doing it, and why are their homeownership rates so much higher than Millennials and Gen Xers at the same age? We’re digging into it and sharing our forecasts of what the coming housing market will look like.

But to understand where we’re headed, we have to peak inside the personal finances of Americans. In this episode, we’re breaking down the average American’s wallet, how much money they have, their credit card debt, and whether they’ll be able to weather the financial storm of rising costs coming at them. How can Americans cope with higher insurance, taxes, and home prices?

Why is Redfin so optimistic about the 2025 spring homebuying market? And what are we seeing right now in our own markets in terms of buyer demand? Have lower mortgage rates finally crossed the threshold where Americans feel comfortable buying a house? We’ll touch on all of today’s latest headlines in this show!

In This Episode We Cover

How Gen Z became the leading young homeowner generation

Lower rates, but still struggling affordability and the real solution to our housing problem

Optimistic news from Redfin about the 2025 spring housing market and the big JUMP in mortgage applications

The average American’s personal finances and whether they’ll be able to eat the cost of recent inflation

The downfall of work-from-home and why more Americans may be moving (and buying houses) soon

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Find Investor-Friendly Lenders

See Dave at BPCON2024 in Cancun!